N.J.S.A. § 54:5-113.5.
Sale of total property tax levy by municipality
16. a. Notwithstanding the provisions of any other law, rule or regulation to the contrary, a municipality may, by resolution of the governing body, agree to sell its total property tax levy, which may include the sale of any subsequently created property tax lien certificates relating to delinquent properties, to a third party at a public sale. If the municipality decides to sell its total property tax levy, the sale shall be either by public sale with sealed bids or by public auction, to the highest responsible bidder, subject to the terms and conditions of law and the bid specifications. The sale shall be held after a copy of the public notice of sale stating the manner of submitting and method of receiving the bids and the time and place of sale has been published in a legal newspaper circulating within the municipality at least 14 days in advance of the date fixed for receiving bids.
b. A municipality, by resolution, may determine to conclude its sale of the total property tax levy in the final month of its fiscal year provided that all statutory notice requirements are followed.
L.1997,c.99,s.16.
Source: view the official text
In this chapter (40 sections)
- 54:5-104.70. · Certain acts and decrees valid
- 54:5-104.71. · To take effect immediately
- 54:5-104.72 · Irregularities in proceedings; instituting new proceedings
- 54:5-104.73 · Right of purchaser to have prior foreclosure proceedings…
- 54:5-104.74 · Further foreclosure proceedings by municipality; title of…
- 54:5-104.75. · Other manner of foreclosure not precluded
- 54:5-105. · Jurisdiction of courts, proof
- 54:5-106. · Persons entitled to apply for order
- 54:5-107. · Parties defendant
- 54:5-111. · Cancellation of record; procedure
- 54:5-111.1. · Certificate of cancellation; execution
- 54:5-111.2. · Effect of certificate
- 54:5-111.3. · Filing or recording of certificate
- 54:5-111.4. · Filing fee
- 54:5-112 · Private sale of real estate acquired for delinquent taxes,…
- 54:5-113 · Private sale of certificate of tax sale by municipality;…
- 54:5-113.1. · Acceptance of bond, note, other obligation as…
- 54:5-113.2. · Removal of lessee, tenant
- 54:5-113.3. · Bond, note, obligation deemed asset of municipality
- 54:5-113.4 · Pledge, transfer of tax sale certificates; assignments,…
- 54:5-113.5. · Sale of total property tax levy by municipality
- 54:5-113.6. · Terms, conditions of bid specifications
- 54:5-113.7. · Rules, regulations; biennial report to Governor,…
- 54:5-114. · Notice mailed to owner; publication and posting
- 54:5-114.1 · Methods of sale of certificate of tax sale by municipality
- 54:5-114.10. · Foreclosure of omitted parties from equity of…
- 54:5-114.2 · Sale of certificate of tax sale, liens by municipality
- 54:5-114.3. · Sales subject to current taxes; redemption
- 54:5-114.4 · Purchasers of tax sale certificates, liens; foreclosure,…
- 54:5-114.5. · Extension of time for recording judgment; failure to…
- 54:5-114.6. · Failure to foreclose equity and record judgment
- 54:5-114.7. · Tax sale certificate not to be delivered before final…
- 54:5-114.8. · Action to bar right of redemption; redemption by payment…
- 54:5-114.9. · Cancellation of tax sale certificate
- 54:5-115. · Certain sales confirmed; subsequent liens continued
- 54:5-116. · Lands acquired at tax sale; exchange for park lands
- 54:5-121. · Conveyance or transfer of lands to state for use as forest…
- 54:5-122. · Release of obligation to collect taxes, etc.; exemption…
- 54:5-123. · Right of redemption
- 54:5-124. · Amount required to redeem